/ world today news/ Billionaires and multi-millionaires dramatically increased their wealth after the so-called covid pandemic. Oxfam figures show that the richest 1 per cent of people on earth have gained almost two-thirds of all the $42 trillion worth of new wealth created since 2020.
1 percent of people, about 80 million of the richest, took home 28 trillion, and the remaining 99 percent of the world’s population, nearly 8 billion people – only 14.
Even more striking is the situation within this one percent. In 2021, the annual Forbes list of the world’s billionaires includes 2,755 people with a total net worth of $13.1 trillion, which is 660 members more than in 2020. 86% of these billionaires had more wealth than they had the previous year year.
Overall, both the number and the wealth of billionaires have doubled over the past ten years.
Billionaires’ wealth increased as early as 2022 with rapidly rising food and energy prices. 95 food and energy corporations earned $306 billion in windfall profits and paid out $257 billion (84 percent) of that to wealthy shareholders.
The Walton dynasty, which owns half of Walmart (a US supermarket chain), earned $8.5 billion in the past year. The fortune of Indian billionaire Gautam Adani, owner of major energy corporations, jumped by $42 billion (46 percent) in 2022 alone.
At the same time, at least 1.7 billion people live in countries where inflation outpaces wages, and more than 820 million people—roughly one in ten people on Earth—are permanently hungry.
Even the World Bank has declared that the world has almost certainly missed its target of ending extreme poverty by 2030 and that “global progress in reducing extreme poverty has stalled”. Thus, the 1920s and the 21st century emerged as the time with the greatest increase in global inequality since the Second World War. This also proves the complete falsity of the so-called 2030 program launched by the billionaires themselves.
“While ordinary people make daily sacrifices for basic things like food or warmth, the ultra-rich have surpassed their wildest dreams. This decade is shaping up to be the best yet for billionaires — a boom for the world’s richest,” said Gabriela Butcher, executive director of Oxfam International. And he continues: “Forty years of tax cuts for the super-rich have shown that a rising tide does not lift all ships, only the superyachts of the super-rich.”
The concentration of ever greater wealth in a small number of people poses enormous threats to our entire civilization and is the most important problem facing the future. We can already see how these ultra-wealthy individuals took the “responsibility” of running the land, of course, without anyone asking them to.
The so-called The “World Economic Forum” in Davos, where the rich gather, already makes the decisions about the future of the planet, and these decisions are only reduced for implementation to official organizations such as the UN, WHO or national governments.
The billionaires, who have now become the global elite, have come to see the nations as their own herds of cattle that they can manage as they see fit.
These processes lead us to a new feudalism, much worse than the previous one. Today’s global kings, earls and dukes have both the power (formally appointed governments) and the power (new technologies) to do so.
Moreover, unlike the Middle Ages, today’s global feudal lords have no faith in God, but only in the devil – that is, in money and power. Therefore, this new feudalism would be much, much more sinister.
Also, most of the world’s billionaires live in countries with no inheritance tax for direct descendants. They will pass on $5 trillion to their heirs (more than the GDP of all of Africa) which will power the next generation of aristocratic elites, that is, hereditary kings, counts and dukes.
A partial success in combating this trend would be the proposal to impose special taxes on the super-rich. This is what the famous Douglas Rushkoff writes in his new book “Survival of the Richest”. A 5% tax on the incomes of the world’s super-rich could raise $1.7 trillion a year, enough to lift more than 2 billion people out of poverty.
However, this could hardly stop the feudalization of the world. It won’t even slow him down.
The only force that can stop the road to hell that they are driving us down is the emergence of a new global ideology. The world desperately needs a new ideology, new ideas to stop the degeneration and return to the dark ages. The basis of this idea is that we should not fight poverty (as the IMF, WB, UN, etc. have been falsely singing for decades) but excessive wealth.
It is not the poor but the rich who create all the problems. The only problem of the poor is that they want to have them, and the only problem of the rich is that the poor can take their power and wealth along with their heads, which has happened many times in the history of the world, and therefore they must impose total control and (or) to destroy them.
The new ideology must be based on a fair redistribution of wealth, on taking away the accumulated billions from the super-rich, on common human ownership and control of the Internet and new technologies.
Mother Earth can feed 20 and more billion people, but only if there is a proper distribution of goods and a harmonious global society, based not on individualism and personal success, but on the collective and collective success.
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